https://www.taxtmi.com/caselaws?id=56777 The Appellate Tribunal upheld the cancellation of an assessment made under s. 147(B) by the ITO, as ordered by the CIT (A). The Tribunal determined that the initiation of proceedings under s. 147(B) based on the Audit party's report did not constitute valid information for reassessment, following the Supreme Court's decision. The Tribunal dismissed the revenue's appeal, affirming the cancellation of the reassessment and finding a two-day delay in filing the cross objection inconsequential due to the assessment cancellation. en-us Fri, 28 Feb 1986 00:00:00 +0530 Mon, 06 Dec 2010 16:49:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56777 The Appellate Tribunal upheld the cancellation of an assessment made under s. 147(B) by the ITO, as ordered by the CIT (A). The Tribunal determined that the initiation of proceedings under s. 147(B) based on the Audit party's report did not constitute valid information for reassessment, following the Supreme Court's decision. The Tribunal dismissed the revenue's appeal, affirming the cancellation of the reassessment and finding a two-day delay in filing the cross objection inconsequential due to the assessment cancellation. Case-Laws Income Tax Fri, 28 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56777